ISLAMABAD: With the aim to enhance cooperation in oil and gas exploration and production, the Khyber Pakhtunkhwa Oil & Gas Company Ltd (KPOGCL) and a Russian company have signed a memorandum of understanding (MoU).
The MoU was signed by KPOGCL CEO Raziuddin Razi, and ROSGEO CEO Roman S Panov in presence of ROSGEO General Director Dr Anastasia S Afanasyeva.
The subject of this agreement is a long-term cooperation between KPOGCL & ROSGEO to perform various oil and gas exploration and production activities including but not limited to geological & geophysical field works, 2D & 3D seismic data acquisition, drilling & related services, stockiest, warehousing and jointly acquiring concession blocks in Pakistan, especially in the province of Khyber Pakhtunkhwa.
KPOGCL & ROSGEO agreed to promote the establishment and development of mutually beneficial cooperation in the above areas. The parties will develop cooperation on the following key priority areas: 1) Increase of the economic potential of Pakistan through the identification of new hydrocarbon fields; 2) Efficient use of the natural resources of Pakistan, ensuring environmental protection and sustainability; and 3) Carrying out of geological surveys within the territory of Pakistan, using the modern technologies and methods.
JSC “Rosgeologia” will be responsible for the technical planning & execution, rigs, recorders, etc., whereas KPOGCL will be responsible for security, logistics & transportation, gensets, earth moving equipment, cranes, tractors, camp facilities, local support manning, communication, local clearances, permits, licenses, business development etc.
